Drug Development

Tiny RXi bags an option to buy CAR-T fledgling MirImmune

 Tim Barberich

Tim Barberich

Eighteen months after MirImmune grabbed a license to RXi’s $RXII RNA tech for use in developing new cell therapies, the tiny mother ship — with a market cap of only $11 million after a steady fade of its stock price — is now looking to reel back the whole effort under a buyout option.

Based in Marlborough, MA with a group of co-founders that includes the former CEO of Sepracor, Tim Barberich, the low-profile MirImmune went to RXi last March to gain a license to a tech that could be used to develop new cell immunotherapies for cancer — a hot topic in the biotech world. Initially, RXi had reserved an option for a chunk of MirImmune.

Under the new deal, RXi is getting rights to buy up the preclinical company for about 20% of its stock and some other, undefined, incentives based on milestones.

Dr. Alexey Eliseev

Dr. Alexey Eliseev

And the public company is setting up a securities offering now to help complete the deal, evidently looking to help sell shares by touting the prospects of a deal revolving around cell therapies.

RXi has until April 5, 2017 to decide if it wants to pull the trigger.

Said Dr. Alexey Eliseev, CEO of MirImmune:

“We treat therapeutic immune cells with RNAi compounds ex-vivo to knock down immune checkpoints, such as PD-1, LAG-3 and others. This treatment boosts the anti-tumor activity of the cells when they are subsequently administered to the patients.”


The best place to read Endpoints News? In your inbox.

Comprehensive daily news report for those who discover, develop, and market drugs. Join 33,900+ biopharma pros who read Endpoints News by email every day.

Free Subscription

Principal Software Engineer
twoXAR Mountain View, CA
Scientist, Quality Control
Molecular Templates Austin, TX
Receptionist/Administrative Assistant
Molecular Templates Austin, TX
Principal
Flagship Pioneering Cambridge, MA

Visit Endpoints Careers ->